Syngenta secures 94% of Devgen

8:35 AM MST | December 12, 2012 | Sotirios Frantzanas

Syngenta says that the conditions of its previously announced €403-million ($523.4 million) public takeover bid for 94% of the shares of Devgen (Ghent, Belgium) have been fulfilled, under the terms of the initial offer. The initial acceptance period for the offer has closed, and the offer has now become unconditional. Payment for shares already tendered will take place on 17 December 2012. Devgen's board will, from this date, be composed of a majority of directors appointed by Syngenta, the company says. Syngenta, if it increases its Devgen stake from 94% to...